A letter from the company dated April 30, 2010:

"The company proposes tp apply for the listing of its common shares on the TSX Venture Exchange. The policies of the Exchange, however, require that the minimum exercise price for any warrants of a listed issuer cannot be less than $0.10 per share. In result, the warrants that you hold which are exercisable at $0.05 per share must be exercised, or re-priced, so that the Company can proceed with its listing application.

The management of the company believe that the listing of common shares of the Company on the Exchange will broaden the trading market for the Company's shares, increase liquidity for all shareholders and facilitate the Company's efforts to raise future funding for the Company's mineral resource projects, and is therefore in the best interests of the Company as a whole.

We would therefore appreciate if you would co-operate and support the Company's listing application, by exercising your outstanding warrants which are exercisable at $0.05 per share at your earliest opportunity."

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If they really wanted to reward the early shareholders, instead of preasuring early conversion at what is almost guaranteed to drive down the current share price to even ridiculously lower levels, why wouldn't they have pushed the price up a little higher to actually support a flip? Can they not convert the warrant to options?

If the intention always was to go on the Venture, why wasn't management aware of this policy prior to the PP and acted accordingly. Perhaps they are spread too thin with some of their other listed companies.